Law Commons^™

Trusts And The Doctrine Of Estates, Olin L. Browder Jr.

Michigan Law Review

The "doctrine of estates" is the common law system for the classification of divided ownership. Its primary purpose is to differentiate the legal consequences of the variety of concurrent, present, and future estates, but it also serves to differentiate the dispositive language required to create or transfer such estates. The doctrine of estates, therefore, embraces a sizable part of the law of conveyancing, including the large body of doctrine known as rules of construction.

In modern practice the classification and construction of present and future interests usually occurs with respect to beneficial interests in trust. It has not been sufficiently …

The Tax Recommendations Of The Commission On The Bankruptcy Laws--Income Tax Liabilities Of The Estate And The Debtor, William T. Plumb Jr.

Michigan Law Review

The Commission on the Bankruptcy Laws of the United States (Commission), pursuant to congressional mandate, has reported its recommendations for the first comprehensive revision of the bankruptcy laws since the Chandler Act of 1938. This Article deals with the proposals concerning the obligation of the trustee in bankruptcy to file returns of income and to pay federal and state taxes on the income, and concerning the calculation of the taxable incomes of the bankrupt estate and the debtor (including their rights to utilize each other's carryovers), as well as with certain problems in those areas in which the Commission has …